TOKYO, Dec. 21 — Cool Japan Fund, a government-backed investor, has targeted Southeast Asia and is betting the region’s rapidly growing middle class can boost exports of Japanese agricultural products through outlet openings.
The Cool Japan Fund said at a Dec. 20 press conference that it will provide up to 500 million yen in funding, aimed at supporting Japanese food operators opening 100 outlets in the next five years in the Southeast Asia region.
“We hope this business will help expand exports of Japanese agricultural products,” explained an official from Cool Japan Fund.
The Cool Japan Fund, set up in 2013, is the centerpiece of the government’s “Cool Japan” strategy. It aims to promote Japanese food, products and services overseas.
The government has also set a target of boosting the annual value of agricultural exports at 1 trillion yen by 2020.
According to the Cool Japan Fund, middle-sized Japanese food operators often face financial burdens when entering Southeast Asian markets.
That includes spotting the right location for outlet opening, understanding local food customs as well as obtaining human resources in the local markets.
“It is vital to support them throughout the entire process of outlet opening,” the Cool Japan Fund official said.